Oct 26, 2010. /Lesprom Network/. Plum Creek Timber Company, Inc. announced 3Q earnings of $32 million, on revenues of $259 million. Earnings for the 3Q 2009 were $19 million, on revenues of $294 million. Earnings for the first nine months of 2010 were $154 million, on revenues of $834 million. Results for the first nine months of 2010 include an $11 million after-tax gain on the first-quarter sale of certain natural gas assets. As a result, income from continuing operations for the first nine months was $143 million. “Our timber resource segments and Manufacturing segment reported improved financial performance, and profit from our Real Estate segment was similar to last year’s. While interest in rural lands remains steady, we did not see the growth in real estate revenue we were expecting as individual and family buyers remained cautious in reaction to increased economic uncertainty,” said Rick Holley, President and CEO. “Despite the slow pace of economic recovery, we remain excited about the long-term prospects for significant growth in our cash flows as the economy recovers, Canadian lumber supply becomes constrained, and bioenergy demand grows. We continue to sustainably manage our business to maximize the long-term value of our assets and our company,” continued Holley. The Northern Resources segment reported a $5 million operating profit during the quarter compared to the $3 million profit for the same period of 2009. Operating profit in the Southern Resources segment was $25 million for the 3Q 2010 compared to $21 million for the same period of 2009. The Real Estate segment reported total revenue of $39 million and operating income of $19 million. The company sold approximately 23,000 acres of lands during the quarter at values similar to those of the past several quarters. The Manufacturing segment reported a $7 million operating profit. Product prices increased year-over-year. Lumber prices increased an average of 9% while plywood and medium density fiberboard (MDF) prices increased approximately 7% and 6% respectively. Sales volumes for plywood and MDF increased 7% and 14% respectively. Lumber sales volumes were 28% lower during 2010 as the result of the permanent closure of two lumber mills in 2009. Plum Creek Timber is the largest and most geographically diverse private landowner in the nation with approximately 7 million acres of timberlands in major timber producing regions of the United States and wood products manufacturing facilities in the Northwest.